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| Press Releases |
| LabVantage in the News 2005 |
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| LabVantage Reports Record 2004 Operating Results |
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Bridgewater, NJ February 28, 2005. LabVantage Solutions, Inc., an innovative global provider of
enterprise laboratory information management solutions, reported today that it achieved record revenues, profitability, and operating cash flow in 2004. Revenues grew in each of the three global regions of operations: North America, Europe and Asia-Pacific, fueled by demand for LabVantage's Sapphire™ Laboratory Information Management System (LIMS), the company's industry-leading browser-based solution for research & development, raw material testing, and quality management laboratories across multiple industries.
"I am pleased to report that we accomplished these record operating results through growth in both our traditional quality management and in our pioneering R&D LIMS businesses," said Jim Aurelio, President and CEO of LabVantage. "As a result of our continued market expansion strategy, coupled with continued strong investment in product development, LabVantage is today recognized as a premier LIMS provider that has both the technology and functionality to address the needs of today's forward thinking organizations, a fact affirmed by the premier companies who have chosen to license our Sapphire™ LIMS solution in 2004. Notable customers include Aventis, Bristol Meyers-Squibb, ConAgra Foods, Johnson & Johnson, Mederex, Millennium Pharmaceuticals, Novo Nordisk, Novozymes, Omya, Proctor & Gamble, SGS, and Viagen. These global companies, leaders in their respective industries, understand the competitive advantage that our configurable, browser-based Sapphire LIMS solution provides them in sharing information across multiple laboratories located around the globe."
"Our 2004 operating results were particularly satisfying when you consider that we continued to invest heavily in our product development and professional services teams," stated Fred DaVeiga, Chief Financial and Administrative Officer of LabVantage. DaVeiga added, "In 2004, we expanded our worldwide development, testing, and customer support organizations by 30% in overall personnel, furthering our long-term commitment to the industry. As a financially well backed, privately owned company, we can continue to balance our short-term operational objectives with the execution of our long-term strategic vision."
Company achievements for 2004:
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Achieved record revenues, profitability and operating cash flow. |
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Released enhanced suite of product functionality and configuration tools for Sapphire™ system. |
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Recognized by Frost & Sullivan for "Product Innovation." |
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Established a new business partner, SPLIMS, to support the French-speaking European region. |
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Extended our strong quality system, evidenced by successful client audits and best practices compliance. |
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Expanded our Indian operations to leverage our worldwide resources and to address the growing Pacific Rim market. |
About LabVantage Solutions. LabVantage, an innovative global provider of enterprise solutions tailored for leading laboratories, serves research/discovery, development, formulation/process research, raw material testing, and quality management laboratories across multiple industries. Our Sapphire™ Laboratory Information Management System (LIMS) helps laboratories optimize their productivity and leverage the latest information management and communication technologies in order to effectively share data throughout their worldwide organizations and across development pipelines and supply chains. A Chatterjee Management Group company and Advanced IBM Business Partner, LabVantage is headquartered in Bridgewater, New Jersey, with offices in High Wycombe, UK, and Kolkata, India. LabVantage also has an extensive web of business partnerships and technology alliances. Further information about LabVantage and its products is available at www.labvantage.com.
Certain statements contained in this release may be forward-looking statements and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. |
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